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Look addicknt however you have tried to pretend I have no idea, let's both be constructive.
We are agreed this is not a bid situation.
To me nothing in the recent past has suggested that's the case.
I have always said the most probable outcome was we head to production.
However I have never counted out a hostile bid, because as you know, I have laid out the diverse book argument many times, explaining why if any type of bid was coming, it would in all cases be hostile, as no one is going to pay us what we want, and that means with major parties holding onto blocks of shares were never going to sell cheap. In fact NCM have said more than once that they are not selling their stake, and would like to add to their position should the opportunity present itself.
So to me this doesn't look like a hostile bid either, because by it's nature a hostile bid would come out of the blue.
So what's left.
Could it be that the change in direction that Ingo was on about, is a much faster open cut than we could imagine, and our first revenue will not come from Alpala. Or could it be Alpala will be up and running faster and as such the BOD are going to have to earn their wages and different skills are now required.
Whatever has happened, I suspect we will find out sooner rather than later, as now every shareholder has a series of targeted questions. I doubt we will get anything from our head of communications. But I would suggest that the people on here who are in contact with the company, can ask the question. Why is this happening, and now is the time to give us the detail. An open question that requires a series of closed answers.
The CFO only started working on 27th June and arrived with glowing references. Her departure must be related to the failed fund raising excercise. That said, they have appointed a replacement pretty quickly. Probably the new CFO was on the final short list for the job. He is a brave man
Well max, my trade yesterday wasn't so "premature" was it?
Have a nice day.
"We have no way of telling if an aggressive bidder will look at our board turmoil and decide this a good time to strike"
This is certainly true!
With copper & gold prices on the rise, I expect a blue day today - no room for sentiment in business.
Q, I agree with you that this doesn't suggest a bid is coming. However, I'd qualify that by saying it doesn't mean an AGREED bid is on the horizon. We have no way of telling if an aggressive bidder will look at our board turmoil and decide this a good time to strike. This has increased our already vulnerable situation.
We have lost five key people in the past few weeks, which, however you look at it, suggests something is not right.
I just get a feeling that Mather is standing firm and perhaps Darryl is a BHP man afterall and Mather is not having any of it. Liam did say a while back that BHP were trying to destabilise the BoD's. Well... pretty much all the old board have gone now and come AGM Mather will be gone too?
Mather will know what is going on and he's on the little shareholders side.
The only really news today of note is the CFO going and the media might attribute that to the recent failed funding round? Heads roll when errors or mistakes happen, but for balance that might not have been the case at all.
Keith and Jason moving on has more to do with Ecuador commitments and the fact that new staff have come in to do very similar jobs.
Keith was the block cave expert or the man with most knowledge so perhaps we are about to see a NCM block cave NED appointed lol!
Just launch a strategic review and let the market join the dots.
Seconded quady.
Good grief ColonelDrake still trying to spin this to his world view. The CFO would not go if a bid was coming as has just completed a package that would have given our CFO a big pay day.
So that's not the reason.
I believe we will continue to get RNS's over the next few weeks which as usual will be consistent with Solgold becoming a producer.
change in strategy as Ingo said.!!!
Or should I say disruptions? Looks like there has been a serious loyalty issue and possible change of intended operational direction? I imagine a drop in SP today?
In the meantime 21p on the cards
There mightnbe a bid this afternoon, for all you/we actually know.
The reality of working in Ecuador on a permanent basis is clearly having an effect on some and understandable as many were Oz based and relocating family etc not always ideal for all.
The CFO is an interesting one. Either she feels she 'hasn't' got the freedom that she feels she should have (eg Mather still running the show) or she realises or knows a bid is coming and it's pointless her being there.
Eitherway, it's looking more and more like a 'for sale' sign will be hoisted very soon imho I have a straneg feeling about this but actually think Mather and his buddies might be angling for this. Perhaps Mather knows that he has up to the AGM to get something sorted or he's toast. Most directors (of old) that were on the board are now gone.
One with a significant history at Bhp
Good morning Monte, I am unsure, but with Ingo going and the new CFO going in short succession, I would say that things are starting to move.
The one thing I would not say is that this is indicative of a bid. That would be crazy.
We have the PFS, next is the DFS, and we know that this will happen faster because of the way the PFS has been constructed. As one feeds into the other. I would guess that we may be looking at another offtake agreement to get us to DFS and BFS. But also that we may have news on partnership's with some of the other regionals.
Certainly a wake up RNS.
Reasons for the departures:
Marshall - cost saving.
Ward - fully understandable and who can blame him?
Saridas - the real mystery. Was she pushed due to unsuitability? Did she fall out over something to do with the failed fund raise? Or did she not like what she found?
Given that Ingo has also gone, her departure is even more surprising.
One thing that's abundantly clear - there's certainly no bid in the near future.
Remember 2 new Execs have joined the team - both Ecuadorian based.
I am surprised Saridas only lasted a couple of months.
Quady
What are your views on the CFO going after only a few months ?
'it is time to handover the reigns'. Illiterate or a deliberate faux pas
Ward's gone as well.
Feck me. It's either a purging or jumping ship...
We continue to make the necessary changes required to advance Cascabel.
Well what would I know...but if DC is as good as his history suggests, maybe we have to trust his strategy. No gain without pain?
"It's time someone woke our board up, the time for dreaming is long gone."
I'd say that includes many of the private investors.
Gl